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“Home Loan Scheme Locks Out Those It’s Supposed to Help” – Cllr Emer Tóibín

Aontú Councillor Emer Tóibín has criticised the deposit requirements for the Home Loan Scheme.

Speaking today, Cllr Emer Tóibín said “The Home Loan scheme locks out the very people that it purports to help. Applicants for the scheme must have an income that does not exceed either €65,000 or €50,000 depending on the county. However, applicants must also be able to put forward a 10% deposit on the house to get access to the scheme. With the average price of a three-bedroomed semi-detached house more than €235,000, this means that the scheme is completely out of reach for most.”

Cllr Tóibín continued “With half of Ireland's tenants spending almost 1/3 of their income and 12% spending more than half their income on rent, saving €23500 for a deposit is just not an option. The cost-of-living crisis is only further eating away at people’s capacity to save money.”

“I heard from a constituent in his 60s who was trying to access the scheme but with the cost of rent was simply not able to save up enough money to access the scheme. The government must recognise this scheme as an abject failure. The threshold for accessing the scheme must be drastically reduced for the scheme to have any meaningful impact on the housing crisis.” Concluded Tóibín



By Aontú Press | 12 September, 2022

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